The Association of Italian Banks (Abi) canceled the national banking agreement well in advance, the expiry of which would have been next June 2014. The decision, dictated according to the banks by a post-crisis drop in profitability and by the lack of regulatory reforms and technological innovation, was announced by the trade unions at the end of their meeting with the bankers' delegation led by Francesco Micheli.
With the cancellation, the ABI blocks the automatic contractual increases, envisaged by the current contract signed on 19 January 2012 and valid until 30 June 2014. The unions underline that the banks have already severely cut personnel costs, reducing 2008 from 2012 to 28.500 jobs. AND another 40.000 redundancies are estimated by the unions for the next few years.
This is why the trade associations have decided on a one-day strike, probably in conjunction with World Savings Day at the end of October. It could only be the beginning of a long season of mobilizations, at least until the ABI withdraws the provision, the trade union organizations report.
